Hepburn, Cameron; Hakon Sælen; Atkinson, Giles - Department of Economics, Oxford University - 2008
In the workhorse model of welfare economics, the elasticity of marginal utility, often denoted as η, serves … enables all tlhree concepts to be disentangled. This theoretical lacuna is important, particularly for the economics of … climate change economics, by surveying the attitudes of over 3000 people to risk, time, and income inequality. The results …